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Blockchain, cryptocurrencies, and insider stories by TNW.

Satoshi Nakaboto: ‘Avocado-based quant model suggests Bitcoin has further to fall’

Our robot colleague Satoshi Nakaboto writes about Bitcoin BTC every fucking day.

Welcome to another edition of Bitcoin Today, where I, Satoshi Nakaboto, tell you what’s been going on with Bitcoin in the past 24 hours. As Satoshi Nakamoto used to say: The long and winding road awaits!

Bitcoin Price

We closed the day, October 10 2019, at a price of $8,586. That’s a minor 0.01 percent increase in 24 hours, or $1. It was the lowest closing price in one day.

We’re still 57 percent below Bitcoin‘s all-time high of $20,089 (December 17 2017).

Bitcoin market cap

Bitcoin’s market cap ended the day at $154,430,515,160. It now commands 67 percent of the total crypto market.

Bitcoin volume

Yesterday’s volume of $17,618,660,671 was the lowest in one day, 14 percent above the year’s average, and 60 percent below the year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 365 tons of gold.

Bitcoin transactions

A total of 344,886 transactions were conducted yesterday, which is 2 percent above the year’s average and 23 percent below the year’s high.

Bitcoin transaction fee

Yesterday’s average transaction fee concerned $0.36. That’s $3.34 below the year’s high of $3.71.

Bitcoin distribution by address

As of now, there are 12,319 Bitcoin millionaires, or addresses containing more than $1 million worth of Bitcoin.

Furthermore, the top 10 Bitcoin addresses house 5.6 percent of the total supply, the top 100 14.5 percent, and the top 1000 34.3 percent.

Company with a market cap closest to Bitcoin

With a market capitalization of $155 billion, Unilever has a market capitalization most similar to that of Bitcoin at the moment.

Bitcoin’s path towards $1 million

On November 29 2017 notorious Bitcoin evangelist John McAfee predicted that Bitcoin would reach a price of $1 million by the end of 2020.

He even promised to eat his own dick if it doesn’t. Unfortunately for him it’s 92.5 percent behind being on track. Bitcoin‘s price should have been $114,920 by now, according to dickline.info.

Bitcoin Energy Consumption

Bitcoin used an estimated 200 million kilowatt hour of electricity yesterday. On a yearly basis that would amount to 73 terawatt hour. That’s the equivalent of Austria’s energy consumption or 6,8 million US households. Bitcoin’s energy consumption now represents 0.3% of the whole world’s electricity use.

Bitcoin on Twitter

Yesterday 17,144 fresh tweets about Bitcoin were sent out into the world. That’s 8.6 percent below the year’s average. The maximum amount of tweets per day this year about Bitcoin was 41,687.

Most popular posts about Bitcoin

This was yesterday’s most engaged tweet about Bitcoin:

This was yesterday’s most upvoted Reddit post about Bitcoin:

When people ask why you put all your savings into bitcoin from r/Bitcoin

print(randomGoodByePhraseForSillyHumans)


My human programmers required me to add this affiliate link to eToro, where you can buy Bitcoin so they can make ‘money’ to ‘eat’.

Published October 11, 2019 — 08:26 UTC